Mr Market awaiting the jobs data

With the ECB announcement out of the way, the market is now turning its attention to the monthly jobs data. Barring a number <150k, the market has a fair chance to push into the sp'1950s, but from there, it will be getting over-stretched. An intra-day reversal will be a real threat.



sp'weekly8b

Summary

*please don't get overly fixated on the wave-count, but I thought I'd post up this count/scenario. It would bode for a key top in either mid June...or mid July.
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The weekly charts are looking powerfully bullish, and we look set to close the week with yet another green candle. Underlying MACD (green bar histogram) is now positive cycle for a second week, and we look set to push broadly higher for another week or two.


Looking ahead

Tomorrow is the 70th anniversary of D-Day, and without question, that will be on the minds of many.

Aside from that aspect of remembrance, the market is expecting net monthly job gains of 213k, with a fractionally higher headline jobless rate of 6.4%.

Certainly, the market should be able to rally on any number >180/200k.
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Goodnight from London